Requests from tenants - built in

[jaycee]

How do you fail to notice something like the security of the property you propose to pay money to live in? It's more like she thought she'd get me to change it once she moved in - she had the PM wrapped around her finger, going over there back and forth, and telling me she is "nervy"... tough bickies! Not my bloody problem.

Insurance requires "reasonable" security. The property has reasonable security - deadbolts! I have *never* had an insurance company insist on any such thing for my contents insurance (and I've never had window locks, door bolts etc).

Mate, I wasn;t having a go, I was making a statement....what's twit5h the tone of your reply, I'm not your tenant / PM LOL !!!

It is easy to forget lots of things (I went shoppin gon Saturday & forgot to buy tissues - actually true)

However....even if she hadn't have forgotten & mentioned it before signing the lease, I get the feeling you still woudn't be happy with the requst anyway.. I didn't suggest that you do / don't do it. I put my opinion forward that I don;t think it is that excessive a request and that I would put them in, but that's me.

Regardless of wether you have come across it or not re insurance asking about security like window locks, it happens, even though you didn;t know it - I learn new things every now & then too, it does not surprise me nor do I do deny it is true when I don't know if it is or not.

At the end of the day, you know deal.... it's up to you if you don;t want to pay for the locks, then don't !

Also, you may want to develop a better relationship with your PM than your tenant does (especially if yuour tenant was able to wrap them around their little finger in such a short time - how many times wolud she have spoken to the PM, a whole 3 times in total and shecould manipulate him/her to con YOU ?)

 

[redsquash]

Tez, I think you're looking at this all wrong!

The thing that you seem to have lost sight of is that a built-in wardrobe is a modest, but real, capital improvement to your property. It would be different if they asked for something that adds no value, such as - I don't know - a different light fitting or something. But a built-in wardrobe will increase the value of your property by at least the $700 that you suggest it will cost. Let's say that it increases the value of your property by $2K (which I think it would in most areas). You are probably getting about a 4% yield on your investment, so by adding this amenity your rent could reasonably go up by 4% x $2K per year = $80 per year, or $1.54 per week.

And you can depreciate the cost of installing the wardrobe, meaning you'll get a few hundred bucks back over the coming years in depreciation benefits.

I think that you either view the $700 cost as the good investment that I think it is in your property, and absorb it - raise the rent $1 or $2 per week if you really feel compelled - or you refuse to do it.

But I don't think that asking the tenant to contribute to the cost of a capital improvement that you insist must stay is remotely just - and possibly not even legal! And I think $10 per week would be grossly disproportionate.

You could use your funds much more intelligently. ie there is an opportunity cost here.
The wardrobe is a fixture and a capital item.
Your depreciation as a capital item would be $17.50 ie 2.5%, so on a tax bracket of 30% you are looking at $5.25 a year gain...................not a strong argument.
Spending $700 wont necessarily mean your house will compound in value. In fact I don't think it will make much difference. Now if i think like that then some others will also and wont be willing to pay what you have suggested

 

[caterpillar]

Mate, I wasn;t having a go, I was making a statement....what's twit5h the tone of your reply, I'm not your tenant / PM LOL !!!

There is no tone apart from what you inject into it. It's an internet reply, I can't put "tone" into it.

However....even if she hadn't have forgotten & mentioned it before signing the lease, I get the feeling you still woudn't be happy with the requst anyway..

You're incorrect, but that's not really surprising, since you don't actually know anything about me or how I operate.

I didn't suggest that you do / don't do it. I put my opinion forward that I don;t think it is that excessive a request and that I would put them in, but that's me.

I don't think it's an excessive request, either. Never said or suggested it was. I disagree with the tenant's method of signing a lease agreeing to the condition of the property, and THEN demanding improvements. I don't think that's unreasonable or difficult to understand.

Also, you may want to develop a better relationship with your PM than your tenant does (especially if yuour tenant was able to wrap them around their little finger in such a short time - how many times wolud she have spoken to the PM, a whole 3 times in total and shecould manipulate him/her to con YOU ?)

How can you even attempt to comment on my relationship with my PM when you don't know either person? LMAO. Perhaps the PM has a soft spot for needy women. How the hell would I know? LOL.

If it's so easy for you to get offended or feel slighted, perhaps you should reconsider the whole internet forum thing. People just type words - how you read them is your thing.

 

[Perp]

There is no tone apart from what you inject into it. It's an internet reply, I can't put "tone" into it.

Oh, I think that you found a way to inject tone very clearly!

 

[buzzlightyear]

....The problem with having antiques is that while they are not really worth a great deal, to insure them properly we are required to have a valuation. Valuations on antiques and jewellery are (generally) ridiculously much higher value than you could ever get when selling them.

Not to hijack this thread, but I have wondered about this practice for ages. How can you professionally value these items, and it bears no resemblence to a market price or its replacement cost....